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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Changes in Allowance for Credit Losses

The changes in the allowance for credit losses included within Trade accounts receivable for the years ended December 31, 2024 and 2023 were as follows:

 

 

 

2024

 

 

2023

 

Balance at January 1

 

$

2,989

 

 

$

2,273

 

Provision for expected credit loss, net of recoveries

 

 

1,938

 

 

 

1,808

 

Write-offs and other

 

 

(744

)

 

 

(1,092

)

Balance at December 31

 

$

4,183

 

 

$

2,989

 

Summary of Determination Cost of Inventories

Inventories at December 31 consist of the following:

 

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Finished and in-process products

 

$

62,601

 

 

$

53,382

 

Raw materials and supplies

 

 

34,400

 

 

 

37,462

 

 

 

$

97,001

 

 

$

90,844

 

Schedule of Estimated Useful Lives of the Assets The Company provides for depreciation and amortization on the basis of the straight-line method over the estimated useful lives of the assets as follows:

 

Buildings

20 to 40 years

Machinery and equipment

3 to 10 years

Leasehold improvements

5 to 10 years

 

Schedule of Property Plant and Equipment by Major Assets Class

The Company’s property, plant and equipment by major asset class at December 31 consists of:

 

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Land

 

$

6,208

 

 

$

6,546

 

Buildings and leasehold improvements

 

 

64,600

 

 

 

63,871

 

Machinery and equipment

 

 

366,112

 

 

 

326,650

 

 

 

 

436,920

 

 

 

397,067

 

Less allowances for depreciation and amortization

 

 

(299,356

)

 

 

(289,134

)

 

 

$

137,564

 

 

$

107,933

 

The balances in the Company's Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) were as follows:

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (1)

 

 

Defined Benefit
Pension Plans
(2)

 

 

Total

 

Balance at January 1, 2022

 

$

(13,935

)

 

$

 

 

$

(1,466

)

 

$

(15,401

)

Other comprehensive income (loss) before reclassifications

 

 

(2,475

)

 

 

 

 

 

33

 

 

 

(2,442

)

Reclassification to (earnings) loss

 

 

 

 

 

 

 

 

50

 

 

 

50

 

Net current-period other comprehensive income (loss)

 

 

(2,475

)

 

 

 

 

 

83

 

 

 

(2,392

)

Balance at December 31, 2022

 

 

(16,410

)

 

 

 

 

 

(1,383

)

 

 

(17,793

)

Other comprehensive income (loss) before reclassifications

 

 

859

 

 

 

 

 

 

66

 

 

 

925

 

Reclassification to (earnings) loss

 

 

 

 

 

 

 

 

53

 

 

 

53

 

Net current-period other comprehensive income (loss)

 

 

859

 

 

 

 

 

 

119

 

 

 

978

 

Balance at December 31, 2023

 

 

(15,551

)

 

 

 

 

 

(1,264

)

 

 

(16,815

)

Other comprehensive income (loss) before reclassifications

 

 

(3,058

)

 

 

(1,761

)

 

 

115

 

 

 

(4,704

)

Reclassification to (earnings) loss

 

 

 

 

 

(639

)

 

 

48

 

 

 

(591

)

Net current-period other comprehensive income (loss)

 

 

(3,058

)

 

 

(2,400

)

 

 

163

 

 

 

(5,295

)

Balance at December 31, 2024

 

$

(18,609

)

 

$

(2,400

)

 

$

(1,101

)

 

$

(22,110

)

 

(1)
Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(0.8) million for the year ended December 31, 2024.
(2)
The accumulated other comprehensive income (loss) components related to defined benefit pension plans are included in the computation of net periodic pension cost. See Note 12, Retirement Plans for additional details.